Fields in Production
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Net Zero Targets and GHG Emission Reduction in the UK and Norwegian Upstream Oil and Gas Industry: a Comparative Assessment
November 2020 Net Zero Targets and GHG Emission Reduction in the UK and Norwegian Upstream Oil and Gas Industry: A Comparative Assessment OIES PAPER: NG 164 Marshall Hall, Senior Research Fellow, OIES The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2020 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-168-6 i Abstract The recent adoption by the UK and Norway of net zero and climate neutrality targets by 2050 has galvanised the upstream oil and gas industry in both countries to adopt GHG emission reduction targets for 2030 and 2050 for the first time. Meeting these targets, ensuring an appropriate sharing of costs between investors and taxpayers and preserving investor confidence will present a lasting challenge to governments and industry, especially in periods of low oil and gas prices. The scale of the challenge on the Norwegian Continental Shelf (NCS) is far greater than on more mature UK Continental Shelf (UKCS) since the remaining resource base is much larger, the expected future production decline is less severe and the emission intensity on the NCS is already much lower (10 kg CO2e/boe) than on the UKCS (28 kgCO2e/boe) due to the long history of tighter emission standards and offshore CO2 taxation. -
Oil and Gas Fields in Norway
This book is a work of reference which provides an easily understandable Oil and gas fields in n survey of all the areas, fields and installations on the Norwegian continental shelf. It also describes developments in these waters since the 1960s, Oil and gas fields including why Norway was able to become an oil nation, the role of government and the rapid technological progress made. In addition, the book serves as an industrial heritage plan for the oil in nOrway and gas industry. This provides the basis for prioritising offshore installations worth designating as national monuments and which should be documented. industrial heritage plan The book will help to raise awareness of the oil industry as industrial heritage and the management of these assets. Harald Tønnesen (b 1947) is curator of the O Norwegian Petroleum Museum. rway rway With an engineering degree from the University of Newcastle-upon- Tyne, he has broad experience in the petroleum industry. He began his career at Robertson Radio i Elektro before moving to ndustrial Rogaland Research, and was head of research at Esso Norge AS before joining the museum. h eritage plan Gunleiv Hadland (b 1971) is a researcher at the Norwegian Petroleum Museum. He has an MA, majoring in history, from the University of Bergen and wrote his thesis on hydropower ????????? development and nature conser- Photo: Øyvind Hagen/Statoil vation. He has earlier worked on projects for the Norwegian Museum of Science and Technology, the ????????? Norwegian Water Resources and Photo: Øyvind Hagen/Statoil Energy Directorate (NVE) and others. 55 tHe ekoFIsk AReA The Ekofisk area lies in 70-75 metres of water at the southern end of Norway’s North Sea sector, about 280 kilometres south-west of Stavanger. -
New Document
ANNUAL STATEMENT OF RESERVES 2016 AKER BP ASA Annual Statement of Reserves 2016 Annual Statement of Reserves 2016 Table of Contents 1 Classification of Reserves and Contingent Resources 1 2 Reserves, Developed and Non-Developed 2 3 Description of Reserves 5 3.1 Producing Assets 5 3.1.1 Alvheim and Viper/Kobra (PL036, Pl088BS, PL203) 5 3.1.2 Vilje (PL036D) 7 3.1.3 Volund (PL150) 8 3.1.4 Bøyla (PL340) 9 3.1.5 Atla (PL102C) 11 3.1.6 Jette (PL027D), PL169C, PL504) 11 3.1.7 Jotun (PL027B, PL203B) 12 3.1.8 Varg (PL038) 12 3.1.9 Ivar Aasen Unit and Hanz (Pl001B, PL028B, PL242, PL338BS, PL457) 13 3.1.10 Valhall (PL006B, PL033B) 15 3.1.11 Hod (PL033) 16 3.1.12 Ula (PL019) 17 3.1.13 Tambar (PL065) 19 3.1.14 Tambar East (PL065, PL300, PL019B) 20 3.1.15 Skarv/Snadd (PL262, PL159, PL212B, PL212) 21 3.2 Development Projects 22 3.2.1 Johan Sverdrup (PL265, PL501, PL502; Pl501B) 22 3.2.2 Gina Krog (PL029B) 25 3.2.3 Oda (PL405) 26 4 Contingent Resources 28 5 Management’s Discussion and Analysis 34 Annual Statement of Reserves 2016 List of Figures 1.1 SPE reserves and recourses classification systen .................................................................... 1 3.1 Alvheim and Viper/Kobra Location Map.................................................................................... 5 3.2 Vilje location map ...................................................................................................................... 7 3.3 Volund location map.................................................................................................................. 8 3.4 Bøyla location map.................................................................................................................. 10 3.5 Ivar Aasen Unit and Hanz location map.................................................................................. 13 3.6 Valhall and Hod location map................................................................................................. -
Oil and Gas Fields in Norway
This book is a work of reference which provides an easily understandable Oil and gas fields in n survey of all the areas, fields and installations on the Norwegian continental shelf. It also describes developments in these waters since the 1960s, Oil and gas fields including why Norway was able to become an oil nation, the role of government and the rapid technological progress made. In addition, the book serves as an industrial heritage plan for the oil in nOrway and gas industry. This provides the basis for prioritising offshore installations worth designating as national monuments and which should be documented. industrial heritage plan The book will help to raise awareness of the oil industry as industrial heritage and the management of these assets. Harald Tønnesen (b 1947) is curator of the O Norwegian Petroleum Museum. rway rway With an engineering degree from the University of Newcastle-upon- Tyne, he has broad experience in the petroleum industry. He began his career at Robertson Radio i Elektro before moving to ndustrial Rogaland Research, and was head of research at Esso Norge AS before joining the museum. h eritage plan Gunleiv Hadland (b 1971) is a researcher at the Norwegian Petroleum Museum. He has an MA, majoring in history, from the University of Bergen and wrote his thesis on hydropower ????????? development and nature conser- Photo: Øyvind Hagen/Statoil vation. He has earlier worked on projects for the Norwegian Museum of Science and Technology, the ????????? Norwegian Water Resources and Photo: Øyvind Hagen/Statoil Energy Directorate (NVE) and others. 47 tHe VAlHAll AReA The Valhall area lies right at the southernmost end of the NCS in the North Sea, just south of Ekofisk, Eldfisk and Embla. -
TOTAL S.A. Yearended December3l, 2015
KPMG Audit ERNST & YOUNG Audit This isa free translation info English of the statutory auditors' report on the consolidated (mandai statements issued in French and it is provided solely for the convenience 0f English-speaking users. The statutory auditors' report includes information specifically requ?red by French law in such reports, whether modified or flot. This information is presented below the audit opinion on the consolidated financial statements and includes an explanatory para graph discussing the auditors' assessments of certain significant accounting and auditing matters. These assessments were considered for the purpose 0f issuing an audit opinion on the consolidated financial statements taken as a whole and not f0 provide separate assurance on individual account balances, transactions or disclosures. This report also includes information relating to the specific verification of information given in the groups management report. This report should be read in conjunction with and construed in accordance with French law and pro fessional auditing standards applicable in France. TOTAL S.A. Yearended December3l, 2015 Statutory auditors' report on the consolidated financial statements KPMG Audit ERNST & YOUNG Audit Tour EQHO 1/2, place des Saisons 2, avenue Gambetta 92400 Courbevoie - Paris-La Défense 1 CS 60055 S.A.S. à capital variable 92066 Paris-La Défense Cedex Commissaire aux Comptes Commissaire aux Comptes Membre de la compagnie Membre de la compagnie régionale de Versailles régionale de Versailles TOTAL S.A. Year ended December 31, 2015 Statutory auditors' report on the consolidated financial statements To the Shareholders, In compliance with the assignment entrusted to us by your general annual meeting, we hereby report to you, for the year ended December 31, 2015, on: the audit of the accampanying consolidated financial statements of TOTAL S.A.; the justification of our assessments; the specific verification required by law. -
Total E&P Norge AS
ANNUAL REPORT TOTAL E&P NORGE AS E&P NORGE TOTAL TOTAL E&P NORGE AS ANNUAL REPORT 2014 CONTENTS IFC KEY FIGURES 02 ABOUT TOTAL E&P NORGE 05 BETTER TOGETHER IN CHALLENGING TIMES 07 BOARD OF DIRECTORS’ REPORT 15 INCOME STATEMENT 16 BALANCE SHEET 18 CASH FLOW STATEMENT 19 ACCOUNTING POLICIES 20 NOTES 30 AUDITIOR’S REPORT 31 ORGANISATION CHART IBC OUR INTERESTS ON THE NCS TOTAL E&P IS INVOLVED IN EXPLORATION AND PRODUCTION O F OIL AND GAS ON THE NORWEGIAN CONTINENTAL SHELF, AND PRODUCED ON AVERAGE 242 000 BARRELS OF OIL EQUIVALENTS EVERY DAY IN 2014. BETTER TOGETHER IN CHALLENGING TIMES Total E&P Norge holds a strong position in Norway. The Company has been present since 1965 and will mark its 50th anniversary in 2015. TOTAL E&P NORGE AS ANNUAL REPORT TOTAL REVENUES MILLION NOK 42 624 OPERATING PROFIT MILLION NOK 22 323 PRODUCTION (NET AVERAGE DAILY PRODUCTION) THOUSAND BOE 242 RESERVES OF OIL AND GAS (PROVED DEVELOPED AND UNDEVELOPED RESERVES AT 31.12) MILLION BOE 958 EMPLOYEES (AVERAGE NUMBER DURING 2013) 424 KEY FIGURES MILLION NOK 2014 2013 2012 INCOME STATEMENT Total revenues 42 624 45 007 51 109 Operating profit 22 323 24 017 33 196 Financial income/(expenses) – net (364) (350) (358) Net income before taxes 21 959 23 667 32 838 Taxes on income 14 529 16 889 23 417 Net income 7 431 6 778 9 421 Cash flow from operations 17 038 15 894 17 093 BALANCE SHEET Intangible assets 2 326 2 548 2 813 Investments, property, plant and equipment 76 002 67 105 57 126 Current assets 7 814 10 506 10 027 Total equity 15 032 13 782 6 848 Long-term provisions -
Supreme Court of Norway
SUPREME COURT OF NORWAY On 28 June 2018, the Supreme Court gave judgment in HR-2018-1258-A (case no. 2017/1891), civil case, appeal against judgment, CapeOmega AS (Counsel Thomas G. Michelet) (Assisting counsel: Kyrre Eggen) Solveig Gas Norway AS Silex Gas Norway AS Infragas Norge AS (Counsel Jan B. Jansen Counsel Thomas K. Svensen) (Assisting counsel: Kyrre Eggen) v. The state represented by the Ministry of Petroleum and Energy (The Attorney-General represented Tolle Stabell and Christian Fredrik Michelet) (Assisting counsel: Håvard H. Holdø) VOTING : (1) Justice Bårdsen: The case concerns the validity of the Ministry of Petroleum and Energy's Regulations 26 June 2013 no. 792 relating to amendment of the Regulations relating to the stipulation of tariffs etc. for certain facilities (the Tariff Regulations), adopted under section 4-8 of the Petroleum Act, among others. 2 (2) The Tariff Regulations 20 December 2002 no. 1724 regulate the tariffs that third parties must pay for shipment of gas in the pipelines owned by the joint venture Gassled. The joint venture was established in 2003, and tariffs were stipulated in the Tariff Regulations for the various areas of the pipeline network. This network is the world’s biggest offshore system for transport and processing of gas, consisting of a number of gas pipelines on the seabed of the North Sea and the Norwegian Sea, some onshore processing plants in Norway and six receiving facilities in the UK, France, Belgium and Germany. The system is subject to licences from the Ministry of Petroleum and Energy pursuant to section 4-3 of the Petroleum Act. -
10Fields in Production
eng_fakta_2005_kap10 12-04-05 15:26 Side 66 10 Fields in production eng_fakta_2005_kap10 12-04-05 15:26 Side 67 Keys to tables in chapters 10–12 Interests in fields do not necessarily correspond with interests in the individual production licences (unitised fields or ones for which the sliding scale has been exercised have a different composition of interests than the production licence). Because interests are shown up to two decimal places, licensee holdings in a field may add up to less than 100 percent. Interests are shown at 1 January 2005. “Recoverable reserves originally present” refers to reserves in resource categories 0, 1, 2 and 3 in the NPD’s classification system (see the definitions below). “Recoverable reserves remaining” refers to reserves in resource categories 1, 2 and 3 in the NPD’s classification system (see the definitions below). Resource category 0: Petroleum sold and delivered Resource category 1: Reserves in production Resource category 2: Reserves with an approved plan for development and operation Resource category 3: Reserves which the licensees have decided to develop FACTS 2005 67 eng_fakta_2005_kap10 12-04-05 15:26 Side 68 Southern North Sea The southern part of the North Sea sector became important for the country at an early stage, with Ekofisk as the first Norwegian offshore field to come on stream, more than 30 years ago. Ekofisk serves as a hub for petroleum operations in this area, with surrounding developments utilising the infrastructure which ties it to continental Europe and Britain. Norwegian oil and gas is exported from Ekofisk to Teesside in the UK and Emden in Germany respectively. -
Structural Framework of the Statfjord Formation (Rhaetian-Sinemurian) in the Oseberg South Field, Norwegian North Sea
Structural Framework of the Statfjord Formation (Rhaetian-Sinemurian) in the Oseberg South Field, Norwegian North Sea Jeffrey John Catterall Petroleum Geosciences Submission date: May 2012 Supervisor: Stephen John Lippard, IGB Norwegian University of Science and Technology Department of Geology and Mineral Resources Engineering Acknowledgements First and foremost, I would like to thank Statoil ASA for the opportunity to work on this project, and for providing me with a place to sit in the Bergen office while writing the thesis. In addition, I would like to thank both of my supervisors Hugo Sese at Statoil and Stephen Lippard at NTNU for their support and feedback throughout the project, and also to Jim Daniels who helped turn this project into one suitable for a Master’s thesis. I have received support from many individuals from the Oseberg South Petroleum Technology Group. Their constant feedback, mentorship, and support during the many aspects of this project have been greatly appreciated. Lastly, thank you to all of my friends and fellow classmates that have made my two years at NTNU such a wonderful experience. Jeffrey John Catterall June 2012 ii Abstract The Statfjord Formation (Rhaetian-Sinemurian) produces from six fields across the North Sea, but no discoveries have yet been made in the 12 exploration wells across the Oseberg South Field. The field has undergone two major periods of rifting in the Permian-Triassic and from the mid-Jurassic to Early Cretaceous. The Statfjord Formation was deposited during the Permian-Triassic post-rift period, but its tectonic influence on the paleogeography of the formation is not well understood. -
E&P Transactions on The
February 2020 E&P transactions on the NCS The year in review: 2019 Deals The energy transition is shaping the M&A landscape on the NCS How to maneuver in the energy transition is core to Following a number of years where companies looking to E&P players acquisition and divestment behaviour. divest E&P all-together have been the strongest driver for Fundamentally, we see three approaches to the corporate transactions, 2019 turned out to be a relatively opportunities and threats associated with reducing the quiet year for E&P transactions, in particular corporate carbon footprint of the production of energy: deals. Nonetheless, we saw a number of companies, with private equity fuelled entities in particular leading 1. “Stick to your guns”. O&G companies that strongly the way, acquiring packages of assets. Indeed, Vår believe oil and gas will be needed to fuel global Energi’s acquisition of Exxon’s Norwegian portfolio was requirements for energy for a long time. one of the largest ever E&P deals by value in Norway. Companies will maintain that their core Similar to Vår Energi where HitecVision is the main competencies are within upstream, and that E&P minority shareholder, another HitecVision portfolio will continue to be an attractive and profitable company, Sval Energi (formerly known as Solveig Gas) business for the foreseeable future.These was an active dealmaker involved in all together three companies tend to be acquisitive and are looking acquisitions and one divestment across pipeline and to grow their production on the NCS. terminal infrastructure and E&P assets. -
Technical Report Challenge 6
2011 Technical Report Challenge 6 Ahmed Awol Tebarek, Brigite Caleca Cabenguela, Farid Abadli, Håkon Eidem Christiansen and Øystein Texmo Prytz NTNU 13.04.2011 Table of content 1 Abstract............................................................................................................................... 3 2 Introduction ........................................................................................................................ 4 2.1 Gullfaks Main Field......................................................................................................... 5 2.2 Gulltopp ........................................................................................................................... 8 2.2.1 Source: ................................................................................................................ 12 3 Plot the inflow along the wellbore.................................................................................... 13 3.1 Segments........................................................................................................................ 13 3.2 Base Case....................................................................................................................... 16 3.2.1 Oil Production .................................................................................................... 16 3.2.2 Segment flow rate ............................................................................................... 17 3.2.3 Sands.................................................................................................................. -
ANNUAL REPORT for the SDFI and PETORO 2018 Petoro Årsrapport 2012 | Kapittelnavn CONTENTS
ANNUAL REPORT FOR THE SDFI AND PETORO 2018 Petoro Årsrapport 2012 | Kapittelnavn CONTENTS The Norwegian state has large holdings in oil and gas licences on Norway’s continental shelf (NCS) through the State’s Direct Financial Interest (SDFI). These are managed by Petoro AS. The company’s most important job is to help ensure the highest possible value creation from the SDFI – value which benefits the whole of Norway. Front cover: Johan Sverdrup DP jacket launch 2018 Photo: BO B. Randulff / Woldcam / Statoil Right: Troll phase 3 Photo: Equinor 2 Petoro Årsrapport 2012 | Kapittelnavn CONTENTS 1. President and CEO’s letter and Directors’ report President and CEO Page 6 Directors’ report Page 8 — 2. Introduction to the enterprise and key figures 2018 Petoro AS Page 18 SDFI Page 22 — 3. Activities and results in 2018 Side 23 — 4. Management and control Board of directors Page 40 Executive management of Petoro AS Page 42 Corporate governance Page 44 Corporate social responsibility Page 48 — 5. Outlook Page 40 — 6. 2018 annual accounts Accounts SDFI Page 52 Accounts Petoro AS Page 84 3 Petoro Årsrapport 2012 | Kapittelnavn Johan Sverdrup Phase 2 PUD Photo: Christian Buch Hansen, Petoro 4 Petoro Årsrapport 2012 | Kapittelnavn 1 CEO’S REPORT AND DIRECTORS’ REPORT — Chief executive Page 6 Directors’ report Page 8 5 SDFI and Petoro annual report 2018 | Chief executive Grethe K. Moen. Photo: Anne Lise Norheim A SOLID FOUNDATION HAS BEEN MADE – LET’S USE THE OPPORTUNITIES 2018 has been an active year for Petoro, are all projects with great significance long-term perspective. The plan calls during which many important decisions for the long-term perspective of the for the first phase to start up at the end have been made.